Welcome!

News Feed Item

Rocketmiles Achieves Rocket Growth, Secures $6.5M in Series-A Financing to Simplify and Reward Travel Bookings

Company will use funds to accelerate customer acquisition and global expansion; adds Tripp Jones and Scott Hintz to the Board of Directors, and other expert advisors

CHICAGO and BOSTON, Jan. 29, 2014 /PRNewswire/ -- Rocketmiles (www.rocketmiles.com) today announced that is has raised another $6.5 million to fuel expansion in the U.S. and international markets.  The Series-A round was led by August Capital, with participation from existing investors Peterson Ventures, Link Ventures and Atlas Venture.  New investors include Chicago Ventures and Sam Yagan, CEO at Match.com.  

Launched less than a year ago, Rocketmiles is a travel-booking site that helps consumers get on vacation faster through a new class of miles incentives.  By booking hotels on the Rocketmiles site, customers typically earn 7,000 airline miles per booking, or about 10-20x the typical incentive. Meanwhile, hotel partners are highly motivated to partner with Rocketmiles because it is a unique vehicle to reach premium customers without using visible discounting schemes on deal sites, which can weaken their brand and pricing strategy.  

"Rocketmiles has developed an incredibly simple platform that shakes up the enormous, but somewhat sleepy, $1.1 trillion market for business travel.  The company takes the proven curated approach of a Hotel Tonight or Groupon, but swaps in virtual currencies for cash discounts that create a win-win for customers and hotels. Loyalty points and miles are prized by a large segment of business travelers and Rocketmiles offers unparalleled value to these customers," said Tripp Jones, partner at August Capital.  

"For 25 million people worldwide, loyalty programs enable that winter break to San Juan or personal adventure to New Zealand.  Our goal is to make that vacation happen faster," said Jay Hoffmann, CEO of Rocketmiles and former executive at United Mileage Plus and Groupon.  Based on our proprietary data, we know the average traveler stands to earn in excess of 80,000 extra miles per year if they use Rocketmiles for their hotel bookings."

New Board Members and Advisors

As part of the Series A financing, Rocketmiles added August Capital partner Tripp Jones to its Board, who brings significant operating experience and expertise in internet business models.  In addition, the company named travel industry entrepreneur Scott Hintz as its second outside member.   Hintz was a cofounder of TripIt, which was acquired in 2011 for $120 million.  Prior to TripIt he was SVP of Product at Hotwire and a management consultant specializing in travel at Accenture. "Even though the travel industry has been in a constant state of innovation over the past decade, there are still many areas ripe for disruption. The growth that Rocketmiles has achieved so far is reminiscent of Hotwire's early days."  

Rocketmiles also named Tom Botts, a hospitality veteran from Starwood and Denihan Hospitality, to its Advisory Council.  He joins Drew Patterson, former CEO at Jetsetter and current CEO of Room77.

About Rocketmiles

Rocketmiles launched in 2013 to allow frequent fliers to earn previously unheard of quantities of loyalty program miles and points when booking rooms at high-quality hotels.  For consumers, Rocketmiles makes saving up for incredible vacations faster and easier.  For hotels, Rocketmiles means being able to offer high-value customers inventory that would have otherwise gone unsold — without weakening the brand through public discounting.  Based in Chicago and Boston, and backed by top-tier strategic venture firms, the company is founded by travel and loyalty veterans Jay Hoffmann, Bjorn Larsen, and Kris Helenek.  For more information, visit www.rocketmiles.com and follow on Twitter @rocketmiles.

Additional Quotes

"...if you would prefer to earn miles every night you book a hotel, you should use Rocketmiles." --Chris Lopinto, Huffington Post, 1/3/14:  "Ten Ways to Earn Miles without Getting on a Plane."

"I am always looking to back great entrepreneurs providing great users experiences in huge markets. The Rocketmiles team has very quickly gained traction with both key industry players and its many loyal customers.  This is one of the most exciting investments I've made."  -- Sam Yagan, Co-founder of OkCupid, CEO of Match, and Rocketmiles investor.

"Rocketmiles is at the top of the class of innovative startups here in Chicago.  In the last year, we've watched them explode out of the gate like Apolo Ohno.  Jay Hoffman and the team are building a great company that also happens to follow in the lineage of established Chicago travel companies like Orbitz and United, and great Chicago eCommerce companies like Groupon."  -- Stuart Larkins, partner at Chicago Ventures.

"Rocketmiles is the best! An easy to use site that has competitive hotel prices and amazing mileage! I'm already looking forward to booking some trips all thanks to Rocketmiles.  We are planning a trip to Yosemite in the Fall, then for next year hope it will help fund a trip to Italy."   -Marie Guinto, a Rocketmiles customer.

"Rocketmiles is like Deer Antler spray for your frequent flyer account" -- Peter Jackson, a Rocketmiles customer.

SOURCE Rocketmiles

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to ...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...